MedDay Raises €8M in Funding

MedDay, a Paris, France-based biotech company, raised €8m in funding.

Backers included InnoBio, a biotech fund managed by CDC Entreprises, and venture capital firm Sofinnova Partners.

The company intends to use the funding to finance the development of three compounds all the way through to 2016, including:
– the phase IIb/III studies for a progressive multiple sclerosis treatment stemming from the Assistance Publique des Hôpitaux de Paris,
– MD 1103 targeting a subgroup of resistant psychoses and
– MD 1105 targeting Alzheimer’s disease.

The funds will be also used for the development of an R&D platform in partnership with the Metabolomics Team at the Institute for Biology and Technology, Commissariat à l’énergie atomique (CEA, Saclay).

Founded in 2011 by Dr Frédéric Sedel and Dr Guillaume Brion, MedDay specializes in the treatment of neuro-metabolic diseases. The company’s technology platform leverages the work of Dr Frédéric Sedel, a neuroscientist at La Pitié Salpêtrière Hospital (Paris), in the area of neuropsychiatric diseases. The company is currently incubated at l’Institut du Cerveau et de la Moelle épinière in Paris (ICM).



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